Propane Price | Finland — Q4 2023
Check how the Propane price evolved in Finland, from Q4 2022 to Q4 2023.
The Propane price in Finland decreased during Q4 2023 to 564 USD per metric ton, which represents a considerable decline of 7.1% compared to the previous quarter’s value. On a year-over-year basis, Propane prices in Finland increased by 9.5%.
The chart below shows quarterly Propane prices, in USD per metric ton in Finland and other selected countries in Northwest Europe.
For further information on the pricing of Propane, including:
- Current prices, on a monthly basis
- 10-year historical pricing data
- Short-term Price Forecasts
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A Little Bit About Propane
Propane is an alkane which occurs naturally in petroleum and natural gas. Propane is in the group of liquefied petroleum gases (LPG) along with butane, propylene, butylene, and isobutylene. It is hardly found in nature besides petroleum deposits. Propane was discovered in 1857; however, it only became industrially produced in the start of the twentieth century, when it started being a component in gasoline in the United States. It is widely used in domestic applications and in the chemical industry worldwide.
Propane trade can proceed in the spot market for immediate delivery. Spot prices, unlike contract prices, depend on commodity availability and are vulnerable to disruptions like plant closures, natural disasters, supply shortages, or changes in regulations by country governments. Conversely, lower demand and increased producer inventories tend to drive spot prices down.
Propane should be stored in cylinders as a liquid with a vapor space above, in cool, dry, well-ventilated areas, away from direct sunlight. Bulk quantities of Propane are usually transported by pipeline, rail, ships, barge, or tankers. The maximum capacity of a pressurized ship transporting Propane is limited to about 2,000 m3 due to high manufacturing costs. Semirefrigerated ships usually hold 2,500–5,000 m3, with fully refrigerated ships having capacities up to 100,000 m3. Alternatively, cargo may be transferred into smaller coastal tankers for delivery of refrigerated products to smaller terminals which cannot receive large oceangoing ships.
Propane is mainly employed as fuel for engines and heating applications (domestic and industrial); in the production of a host of organic chemicals in steam cracking; as a refrigerator; and as a propellant. This commodity can be used in the manufacture of derivatives, such as: ethylene; hydrogen cyanide; propylene; tetrachloroethylene; acrylonitrile.
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